Quarterly regulatory reports
Report on major regulatory developments during the quarter and expected developments for the next quarterQuarterly regulation outlook reports compile regulatory developments issued by global regulators (BCBS, FSB), supranational ones (with a focus on Europe), and some local geographies (USA, UK, Spain) for the quarter, and anticipate major changes in regulations for the following quarter, the following year, or on the longer term.
They are structured as follows: executive summary, which contains references to the most important regulatory changes for the period; forthcoming publications, providing details of documents that will be published during the next quarter, next year and in the longer term; and the body of the report, made up of a collection of summaries of relevant publications for the quarter.
Latest Quarterly regulatory reports released.
Regulation outlook 3Q25
Available in: English - Spanish
In the third quarter of 2025, regulation moved forward with the approval of the Delegated Regulation on taxonomy information disclosure and the revision of the European Sustainability Reporting Standards. The EBA launched consultations on the definition of default and internal governance, while the ECB and the SRB published new guidelines on internal models and resolvability. In Spain, the Bank of Spain opened for consultation the Draft Circular updating accounting regulations, and in Latin America, notable developments included the new investment Regulations of Peru's SBS and accounting updates in Mexico.
Regulation Outlook 3Q25
Regulation outlook 2Q25
Available in: English - Spanish
In the second quarter of 2025, at the global level, the ISSB and the BSBS advanced the implementation of climate-related standards and voluntary frameworks for financial risk disclosure and transition plans. In Europe, the EBA and EIOPA promoted new guidelines on liquidity risk, resolution, and the integration of ESG risks into risk management, while the new Pillar 3 requirements continued to take shape and the entry into force of the FRTB was delayed.
Regulation outlook 1Q25
Available in: English - Spanish
In the first quarter of 2025, the ISSB issued guidance on how to make climate-related disclosures in line with its standards. Europe has intensified its regulatory agenda on sustainability, artificial intelligence and risk management. Among the most significant developments at the local level, Spain has begun transposing the Recovery and Resolution and Solvency II directives, while the UK has delayed the implementation of Basel 3.1 until January 2027. In the US, the PROTECT USA bill aims to prevent key national companies from having to comply with foreign sustainability regulations. In Peru, the SBS was particularly active, issuing several regulatory initiatives on topics such as the adoption of IFRS 9 and the prevention of money laundering and terrorist financing.
Regulatory news for the current quarter can be found in the Regulatory Alerts for the Quarter section, , while regulatory news from previous years can be found on the Annual Regulatory reports section.
